BKKT
BKKT from $12 to $38It was halted a lot before market close, no halts after hours so was able to trade freely and made a solid move beyond 200% mark.
It will likely be trading on large volume tomorrow, one to keep an eye on
Crypto in Wonderland: Bakkt's Quantum Leap into the MetaverseIn the dynamic world of cryptocurrency, one company stands out amidst the digital tumult: Bakkt Holdings, Inc. (NYSE: NYSE:BKKT ). With a recent surge in its stock following the release of robust Q4 results and an ambitious outlook for FY24, Bakkt ( NYSE:BKKT ) is poised to redefine the industry's landscape.
A Strong Financial Footing
Bakkt's ( NYSE:BKKT ) Q4 earnings report showcased remarkable growth, with quarterly gross crypto services revenues soaring to $199.4 million, reflecting a staggering increase from the previous year. This surge in revenue was complemented by a strategic focus on expense management, evidenced by a substantial decline in operating expenses, excluding crypto costs. Moreover, Bakkt's recent completion of a direct offering further bolsters its liquidity, underlining a commitment to fortify its financial position.
Strategic Initiatives for Growth
Central to Bakkt's success narrative are its strategic initiatives outlined for FY24. The company's focus on broadening its client network and deepening existing relationships underscores a commitment to fostering long-term partnerships. With an eye on international expansion, particularly in Latin America and Asia, Bakkt ( NYSE:BKKT ) aims to capitalize on emerging opportunities.
Product Expansion and Innovation
Bakkt's foray into institutional crypto capabilities marks a pivotal juncture in its evolution. The recent launch of Collaborative Custody, in collaboration with Unchained Capital, underscores Bakkt's commitment to enhancing security standards in digital asset storage. Moreover, the imminent launch of institutional trading services promises to deliver a high-performance, low-cost trading venue, catering to the evolving needs of institutional clients.
Prudent Expense Management
A key pillar of Bakkt's strategy lies in prudent expense management. By diligently curbing operating expenses, Bakkt ( NYSE:BKKT ) aims to preserve its strong balance sheet and ensure judicious capital allocation. This disciplined approach not only enhances financial resilience but also instills investor confidence amidst market volatility.
Charting a Path to Profitability
With a revised outlook projecting substantial revenue growth for FY24, Bakkt ( NYSE:BKKT ) is steadfast in its pursuit of profitability. By leveraging its enhanced product suite and strategic partnerships, Bakkt ( NYSE:BKKT ) is well-positioned to capitalize on the burgeoning demand for cryptocurrency services. The appointment of Andy Main as President and CEO further ascertain a commitment to driving sustainable growth and value creation.
Technical Outlook:
Amidst the strong FY24 Reports, NYSE:BKKT is trading below the 200-day Moving Average with a weak Relative Strength Index (RSI) of 37.23 indicating a slow rising trend formation. The stock is up 4.44% in early market trading Tuesday.
Cryptocurrency companies vs Bitcoin📉This graph shows the average price of the main companies in the cryptocurrency sector, and their correlation with Bitcoin.
I follow the same logic for crypto ETFs, in which I analyzed this link:
The correlation shown here is a little lower compared to ETF's.
🐔I think that the price will make a hen fly, and then fall more strongly🐻.
BKKT upside potentialIf you haven`t bought the dip here:
Then you should know that Bakkt Holdings operates a digital asset platform. Its platform enables consumers to buy, sell, store, and spend digital assets. it`s one of the cheapest to invest cryptocurrency exchanges, if you compare its market cap with the tokens owned by the traditional crypto exchanges.
BKKT is owned by Intercontinental Exchange, they have the NYSE too. So extremely legit for institutional investors.
BKKT upside potentialCryptocurrency exchange Bakkt has a partnership with Mastercard to offer crypto debit and credit cards.
Bakkt has announced a separate deal with Fiserv .
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
Manasquan Bank, a NJ-based mutual community bank will be participating in its early adopter program, which will allow the bank’s retail clients to buy, sell and hold cryptocurrency through the bank’s mobile banking app.
I see an easy upside to $17.20 for the stock.
BKKT back to ATH by july?once people understand who BKKT is and what they are doing in the space, we will see a big move again. i think we will bounce around a little bit, but mostly think up from here.
BKKT dip opportunity With an estimated BTC price of 100K from Goldman Sachs, this crypto exchange owned by the same company who has the NYSE, is a steal at this price.
My first price target is the $17 resistance.
$BKKT Has Huge Upside Potential Hello traders, I want to talk to you about the upside potential with $BKKT
For the past three trading sessions, price has traded above it’s 9 EMA pushing towards a heavily traded zone.
If price can sustain it’s upward move through the Supply Zone (9.15-10.85) The next area to focus on is the $18 range where price had resistance on December 8th, 2021.
Be ready to take action!
This trend analysis is not to be taken as financial advice; always do your research.
Questions are welcome in the comments below.
Please support this idea with your like and comment, thank you 🙏
BKKT Price TargetsIf you haven`t bought the all time low, when the options level reached an extreme implied volatility:
Then you should know that my price targets for this year are the 3 major resistances: $11, $17.30 and $27.
Looking forward to read your opinion about it.
BKKT Extreme Volatility Option CallsBKKT is now at all time low, $3.41, after almost 3 months ago it was trading at $51.
Bakkt is oversold for the last 24 days!
But yesterday i noticed the highest out of the money calls that implied a huge volatility for BKKT: $35 strike price expiring May 20!
I haven`t seen such a 900% price difference since the GME calls 2 years ago.
This might be a great buy opportunity! if you don`t know BKKT, here are some details:
Cryptocurrency exchange Bakkt has a partnership with Mastercard to offer crypto debit and credit cards.
Bakkt has announced a separate deal with Fiserv .
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
Manasquan Bank, a NJ-based mutual community bank will be participating in its early adopter program, which will allow the bank’s retail clients to buy, sell and hold cryptocurrency through the bank’s mobile banking app.
BKKT`s Market Cap is 194Mil, basicaly a penny stock, lower than some of the most obscure crypto exchanges utility tokens.
And when you think Bakkt is owned by ICE, Intercontinental Exchange , the company who owns the New York Stock Exchange!
How high can this stock skyrocket from here?
BKKT has reached a support areaBakkt Holdings is a subsidiary of Intercontinental Exchange Holdings, who owns the New York Stock Exchange.
Bakkt Holdings operates a digital asset platform.
Its platform enables consumers to buy, sell, store, and spend digital assets.
BKKT seems to have found support in the $6 area.
Jefferies Financial Group has a $28 price target for it.
Now you can buy BKKT cloase to all time low.
52 Week Range 5.56 - 50.80
BKKT at All Time Low ! Buy Opportunity ???Cryptocurrency exchange Bakkt has a partnership with Mastercard to offer crypto debit and credit cards.
Bakkt has announced a separate deal with Fiserv .
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
Manasquan Bank, a NJ-based mutual community bank will be participating in its early adopter program, which will allow the bank’s retail clients to buy, sell and hold cryptocurrency through the bank’s mobile banking app.
52 Week Range 6.13 - 50.80
BKKT`s Market Cap is 353.847Mil, lower than some of the most obscure crypto exchanges utility tokens.
And when you think Bakkt is owned by ICE, Intercontinental Exchange, the company who owns the New York Stock Exchange!
How high can this stock skyrocket from here?
BKKT bullish reversal Price TargetsIf you haven`t bought the all time low here:
Then you should know that BKKT is already close to the fist price target.
BAKKT is owned by ICE, Intercontinental Exchange, the company that owns the New York Stock Exchange!
Cryptocurrency exchange Bakkt has a partnership with Mastercard to offer crypto debit and credit cards.
Thanks to Mastercard and Bakkt, businesses and banks will be able to issue their own branded crypto debit and credit cards to consumers who want them.
Manasquan Bank, a NJ-based mutual community bank will be participating in its early adopter program, which will allow the bank’s retail clients to buy, sell and hold cryptocurrency through the bank’s mobile banking app.
Bakkt also announced a separate deal with Fiserv .
Gavin Michael: “We want to provide consumer choice. We want to be able to provide the availability to use crypto currency in an everyday transaction”
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
My short term price targets are: 11.60, 16.80 and even 27.60usd.
It might sound exaggerated, but my price target for late 2022 is 80usd.
Looking forward to read your opinion about it.
BKKT Retracement Completed. New Price TargetsAfter a run to 50.80, now BKKT did a complete retracement and gives you the opportunity to ride it once again!
Cryptocurrency exchange Bakkt has a partnership with Mastercard to offer crypto debit and credit cards.
Thanks to Mastercard and Bakkt, businesses and banks will be able to issue their own branded crypto debit and credit cards to consumers who want them.
Bakkt also announced a separate deal with Fiserv .
Gavin Michael: “We want to provide consumer choice. We want to be able to provide the availability to use crypto currency in an everyday transaction,”
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
My short term price targets are: 11.60, 16.80 and even 27.60usd.
Looking forward to read your opinion about it.
BKKT 15K calls expiring today + Dark Pool Prints More than 15K calls on BKKT are expiring today. and those are the calls from the last month only.
The strike price varies from 14 to 75usd.
The price of the stock is now 9.08usd.
Yesterday we saw a volume of 32mil.
Besides the 32mil, Dark Pool Prints were 33Mil.
Dark pools are private exchanges not accessible by the investing public. Dark pools facilitate block trading by institutional investors who did not wish to impact the markets with their large orders and obtain adverse prices for their trades.
I expect strong intraday volatility.
i know it seems a little bit exaggerated, but i wouldn`t be surprised the see BKKT trading at 14-15usd.
don`t forget that on Nov 21 BKKT was trading at $50.80.
Looking forward to see how this trading day will end!
What is your opinion about this trade?
BKKT - Turning point coming soon?YOU TELL ME JAVIER, WHAT WE SAYING BROTHER?
BKKT (Bakkt Holdings) ironically, i am actually BULLISH on this asset in the LONGTERM, but on an intraday, trading basis, i think we have entered a naughty bearish down move, with us approaching some interesting levels.
My target area is as detailed, but i do have TP's set for levels between 10$ & 15$.
BKKT vision is to connect the digital economyBakkt taps into the $1.6+ trillion of digital assets across cryptocurrencies, rewards and loyalty points, gaming assets, gift cards and beyond.
BKKT allows consumers to aggregate digital assets, access liquidity and trade, transfer and pay however they want.
Cryptocurrency exchange Bakkt announced a partnership with Mastercard to offer crypto debit and credit cards.
Thanks to Mastercard and Bakkt, businesses and banks will be able to issue their own branded crypto debit and credit cards to consumers who want them.
How big do you think this can be?
Bakkt's also announced a separate deal with Fiserv .
Gavin Michael: “We want to provide consumer choice. We want to be able to provide the availability to use crypto currency in an everyday transaction,”
Is this the start of crypto adoption or what?
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
Buying BAKKT in this area looks like a great opportunity in my opinion!
My price targets are: 17usd short term, 26usd mid term, an 35usd by the end of 2022.
BKKT depends much on the adoption. in the most favorable scenario, we can see a spike to $60 anytime now.
#BBIG - SHORT!!!!Here you go Javier, published just for you buddy!
Short on BBIG for a number of reasons, mainly technical more so than fundamental.
Technically speaking;
- Runaway gap formed during the Jan 2021 bullish move that was partially faded, but still left a gap between $1.60 & $1.95. 2 other minor gaps (Orange boxes) formed this year also, equating to THREE gaps in price total.
- Previous ATH was $11+, with bulls only managing to get it over briefly, and failed to create any relevant support to build on.
- Currently in a bearish wedge pattern, which if unable to reverse at this key $4 level, could result in lower levels being tested for support ($2-3).
MY ONLY BULLISH SENTIMENT is that at current price levels, we could see a new bullish wave form bringing price back up to meet the $5 or $6 levels again, which would coincide with my TA well.
So there it is, on an INTRADAY/TRADING mindset, im very bearish on BBIG, however, if my TA come through, i would be flipping my stance to a bullish outlook around the 1-2$ levels.
BKKT Elliott Wave wave 3 potential?I'm a big Elliott Wave (EW) trader, but sometimes the projections can seem a little outlandish. Then again, when Tesla was way down and wave projection put it up into the thousands, doesn't seem outlandish looking back at it now.
I personally think if someone doesn't want to dive real deep into crypto and digital assets, this at least can provide some exposure. Per the chart, with EW and fib measurements, it looks like a standard .618 retrace and can indicate the potential of beginning a Wave 3 up. Wave 3's are the strongest movements in EW waves; and if it follows anything remotely similar to how the potential Wave 1 played out (going from $8 up to $50), then maybe the 1.618 fib extension measurement for Wave 3 up to the $300 range doesn't seem as outlandish.
BKKT Short Float 84.72% ! Ready for an Epik Gamma Squeeze ???BKKT perfectly touched the institutional support level of the Fibonnaci 0.618 retracement and now we see a doji trend reversal candle!
According to Finviz, the Short Float is 84.72%! I haven`t seen such a level since the GME gammasqueeze play!
About BKKT:
Cryptocurrency exchange Bakkt announced a partnership with Mastercard to offer crypto debit and credit cards.
Thanks to Mastercard and Bakkt, businesses and banks will be able to issue their own branded crypto debit and credit cards to consumers who want them.
How big do you think this can be?
Bakkt's also announced a separate deal with Fiserv .
Gavin Michael: “We want to provide consumer choice. We want to be able to provide the availability to use crypto currency in an everyday transaction,”
Is this the start of crypto adoption or what?
Bakkt also partnered with Google to allow its users to purchase goods and services using cryptocurrencies through the Google Pay wallet.
My price target is 66usd!
What is yours?
$BKKT Bakkt - Bullish Options Flow$BKKT Bakkt Bullish Options Flow - $364M of deep in-the-money Nov 19 calls traded today with earnings coming up next week.
Stock bounced off $32 support in the final hour of trading today. On this multi day down move volume has been declining, signaling a possible reversal coming.
Keep in mind short interest remains high on this stock 20%+ so if this gets moving again it could squeeze quickly. This is obviously a high risk, volatile stock recently...so I am proceeding with caution.
Depending how this opens tomorrow I will likely be looking to open a bullish options trade to take advantage of a possible run up leading up to earnings. I will not be holding any position through earnings unless I have partially scaled out and am only risking profit.
Near term target: $54-$60 range possible
NOTE: This is NOT investment advice. Opinion/educational only.
